contracts

October 2, 2017

When are Incoterms CRF and CIF terms used?

The Incoterms Cost and Freight (CFR) and Cost, Insurance and Freight (CIF) mean that the seller is then responsible for loading the products and paying any fees associated with the port and shipping.  Therefore, CFR and CIF are commonly used terms in purchase and sale agreements where the buyer has slightly more negotiating power than the seller.
September 12, 2017

What do the Incoterms CFR and CIF mean?

Goods shipped under the condition Cost and Freight (CFR) must be loaded onto the method of transport by the seller.  The seller is then responsible for paying any fees associated with the port of loading as well as paying the shipping cost to deliver the goods to the buyer.  However, the cost of insurance (if necessary) and all fees associated with the port of call are borne by the buyer.
July 24, 2017

Why is it important to have a Japanese contract translated by an attorney?

While a choice of language clause can help clarify which of the versions of the contract is the real one, it is important to have the translation as accurate as possible for a variety of reasons.  When drafting a contract, each word carries special meaning and, if a sloppy translation is provided to one party, they may not have an accurate understanding of what the contract really says. 
June 28, 2017

What is an Exclusive License Agreement?

The exclusivity of an agreement is an important part of negotiating any business deal and plays a large role in licensing agreements and distributorship agreements.  Making a distributorship agreement exclusive means that only the distributor with the exclusive right may sell the products.  Similarly, an exclusive license means that only the licensee can use the license.  This exclusivity provides a major business advantage, ensuring that the exclusive distributor or licensee will not face any competition from other companies distributing the same product or using the same license.